Reinsurance News
MGA
MGA’s, or managing general agents, are important participants in the insurance and reinsurance market landscape.
An MGA, or Managing General Agent, is often thought of as a specialist type of insurance intermediary, acting as an agent of an insurer, but having broader authority than a typical agent or broker. MGA’s undertake functions including underwriting, binding coverage, and even claims management, on behalf of an insurer or reinsurance capital provider. They tend to bridge the gap between insurers and specialised markets, often focusing on niche or complex lines of insurance and reinsurance underwriting business.
Read all our MGA focused insurance and reinsurance news below.
Hoxton Insurance Services launched by MGA platform NuVenture
11th August 2021
London-based managing general agency (MGA) platform NuVenture has announced the launch of Hoxton Insurance Services, an MGA that will focus on Mid and High Net Worth personal lines insurance in the UK. Trading exclusively through brokers, Hoxton Insurance Services will offer protection for homes, possessions, fine art, valuables, cars, travel and ... Read the full article
SiriusPoint launches specialty MGA Banyan Risk with Usher-Jones
8th July 2021
SiriusPoint, the international specialty re/insurer recently formed via the merger of Sirius Group and Third Point Re, has announced the launch of a new managing general agent (MGA) that will underwrite Directors & Officers (D&O) business, called Banyan Risk. Banyan has been established by Founder and CEO Tim Usher-Jones in partnership ... Read the full article
MGA premium growth outpacing P&C market: Conning
5th July 2021
A new report by investment management firm Conning shows that the managing general agent (MGA) and program market continued its upward trajectory in 2020 with premium growth outpacing the overall property-casualty market. Despite the pandemic’s challenges and associated uncertainties, Conning found that many MGAs and program administrators continued to thrive last ... Read the full article
Rising Edge announces four senior hires
27th May 2021
Rising Edge, a London-based directors’ and officers’ (D&O) Managing General Agent (MGA), has made four senior appointments. Miles Murphy has been appointed Finance Director and Chief Operating Officer. He brings over 25 years’ insurance industry experience and will be responsible for all the financial and operational aspects of the business. Murphy's been working ... Read the full article
AM RE’s Ernie Zayicek sees opportunities in post-covid US program market
14th May 2021
With a crop of strong Managing General Agents having weathered a program market further dislocated by COVID-19, AM RE Syndicate’s Ernie Zayicek sees an opportunity to help both high performing MGAs and reinsurance partners in facilitating their ambitions for growth in the US. Zayicek, who serves as Chief Operating Officer and ... Read the full article
MGA platform NuVenture launches, backed by Xceedance
26th April 2021
Industry veteran Andy Colbran has launched a new London-based managing general agency (MGA) platform, called NuVenture, in partnership with re/insurance service provider Xceedance. NuVenture will establish a portfolio of MGAs, focused on a range of insurance products and sectors. Founders of the underwriting teams it works with will have a significant equity ... Read the full article
Merlin Underwriting rebrands as TruStar
5th March 2021
Merlin Underwriting, a Toronto-based Managing General Agent (MGA), has rebranded as TruStar. The rebrand will come into place effective immediately and will still offer a portfolio of specialty insurance solutions that span across the commercial, professional, and financial line segments. Led by CEO Daniel Moses, the rebranded organisation will focus on building ... Read the full article
Brit creates US MGA via combination of BGSU platform & Ambridge
3rd March 2021
Insurer and reinsurer Brit Ltd has announced plans to combine its Brit Global Specialty USA (BGSU) platform and Ambridge, to create a leading U.S. MGA. The combined entity will operate as Ambridge Partners LLC and creates an MGA managing more than $450 million in premium in the U.S. and over $100 ... Read the full article
D&O focused MGA Rising Edge to launch in H1
1st March 2021
Rising Edge, a London-based Managing General Agent (MGA) writing directors’ and officers’ (D&O) insurance, has announced that it will launch during the first half of 2021. The new company will be led by Chief Executive Officer, Philippe Gouraud, a well-known industry executive in the London insurance market. He will be joined by ... Read the full article
Ensurance secures capacity deal with AXA UK
22nd February 2021
Specialty lines MGA Ensurance has secured a new capacity deal with AXA Insurance UK for its core construction and engineering products. The deal sees AXA replace Swiss Re as the MGA’s main capacity provider and provides ‘AA’ rated capacity. “This is a landmark deal for Ensurance. We have worked hard building our ... Read the full article
Third Point Re takes stake in new Bermuda MGA Arcadian Risk Capital
17th September 2020
Third Point Re, the Bermuda-based reinsurance company, has announced an investment and partnership with new managing general agent (MGA) Arcadian Risk Capital Ltd. a start-up led by well-known industry executive John Boylan. Boylan is launching Arcadian Risk Capital Ltd. as an MGA focused initially on underwriting Excess Casualty and Professional Lines ... Read the full article
Capacity Place launches capacity marketplace for insurance programs
29th June 2020
A new marketplace designed to make it easier for insurance professionals to find relevant trading partners for their insurance programs has launched, and is initially targeting the delegated authority market. London-based Capacity Place is initially targeting MGAs, program administrators, insurtechs, management teams, wholesale brokers, binder brokers insurers, and Lloyd’s underwriters for ... Read the full article
ClarionDoor announces launch of MGA Hub
26th May 2020
ClarionDoor, a provider of cloud-only, frontline insurance distribution solutions, has announced the launch of the ClarionDoor MGA Hub, in an effort to revolutionise MGA distribution. While offering insurers the ability to rapidly and expertly find markets for new products, ClarionDoor says MGAs have had the daunting challenge of working with technology ... Read the full article
Aon expands intellectual property offering with new MGA
11th May 2020
Global insurance and reinsurance broker Aon has announced the launch of a new underwriting platform featuring the world's largest capacity for intellectual property (IP) liability risks. Aon says that its latest offering is designed to meet the changing needs of clients' IP exposures, especially in the current distressed economic environment that ... Read the full article
Optio acquires political violence & terrorism MGA from Castel
3rd January 2020
Optio, the managing general agency (MGA) comprising Ascent Underwriting, Cove Programs and Bay Risk Services, has acquired specialist political violence and terrorism MGA Newbridge Risk Partners. Newbridge was launched in 2015 on the Castel MGA formation platform, writing a book of political violence and terrorism risks in emerging markets regions. With capacity ... Read the full article
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